Driving efficiency, compliance, and growth in the accounting and taxation sector

The accounting industry in Ghana is changing dramatically in this age of rapid technological growth, mostly due to the incorporation of artificial intelligence (AI).

As the business landscape continues to evolve, accountants and tax professionals are encountering new opportunities and challenges that are redefining their roles and enabling them to make greater contributions to the corporate world.

This article examines how artificial intelligence (AI), specifically generative AI, is changing taxation and accounting in Ghana and empowering professionals to work as strategic partners within their companies.

The role of AI in transforming accounting and taxation practices

Moving Beyond Traditional Roles

In the past, accountants and tax experts were frequently viewed as merely “number crunchers,” whose main responsibilities were data entry, transaction reconciliation, and report preparation. But new developments in AI technology are altering this view. Professionals in this field can concentrate on strategic projects that add value to their companies by automating repetitive operations.

A Deloitte analysis in 2022 stated that 40% of AI adopters achieved improved efficiency and productivity. In other analyses suggested that generative AI can improve skilled worker’s performance by nearly 40%  while reported developers using AI tools see a 40-50% productivity increase.(Deloitte, 2025).

Enhancing Productivity and Efficiency

AI has the ability to greatly increase productivity in a number of accounting and taxation-related tasks, such as financial analysis, compliance, and auditing. For instance, real-time processing and analysis of big datasets by AI systems allows experts to provide more complex services. According to a report by PwC (2021), predictive analytics might reduce financial forecasting time by 50%, enabling quicker and more accurate decision-making.

Individualization and Tailored Perspectives

The potential of AI integration to offer customized reporting and advice is among its most exciting features. This is especially helpful for small and medium-sized enterprises (SMEs), who might not have previously had privy to sophisticated analytical tools.

Generative AI makes complicated, data-driven conclusions cheaper and more readily available, leveling the playing field for smaller firms and empowering them to compete more effectively. According to a survey by McKinsey (2023), SMEs that harness AI can improve their sales by an average of 15%.

Navigating the challenges of AI adoption

Initial and Ongoing Costs

The use of AI in accounting is not without its difficulties, despite the numerous advantages it provides. Particularly for smaller businesses that can find it difficult to bear the financial strain of implementing new technologies, initial implementation expenses might be substantial. 60% of small businesses mentioned cost as a major barrier to adopting AI, according to a 2023 International Federation of Accountants (IFAC) survey (IFAC, 2023). Significant obstacles may also arise from continuing expenses for system upkeep and employee training.

Resistance to Change

One of the most prevalent obstacles in accounting organizations is still resistance to change. A lack of knowledge about how AI might improve their roles or concerns about job security may make many professionals reluctant to adopt new technologies. According to the Association of Chartered Certified Accountants (ACCA) (2022), 45% of accountants were unsure how AI would affect their ability to maintain their jobs. For integration to be successful, this inertia must be addressed.

Ethical Considerations and Data Security

Data security and potential biases in AI algorithms are important ethical issues as AI systems handle more and more private customer data. The Ethics and Compliance Initiative reports that 70% of businesses understand the importance of having explicit ethical standards when implementing AI (ECI, 2023). To maintain compliance and safeguard private client information, accountants and tax professionals must abide by certain ethical guidelines.

Future focus: AI in Ghana’s accounting and taxation sector

Opportunities for Growth and Specialization

The potential for AI to transform the accounting and taxation landscape in Ghana is immense. As technology evolves, new roles and specializations are likely to emerge. For instance, “AI in Taxation” specialists could bridge the gap between advanced AI capabilities and their applications in tax planning and compliance. This shift will empower tax professionals to provide real-time insights and strategic advice, enhancing their value to businesses (Ghana Business News, 2025; Opoku et al., 2025).

Enhancing Tax Compliance and Revenue Generation

Incorporating AI into accounting procedures will also improve tax compliance and government revenue generation. According to a 2023 Ghana Revenue Authority (GRA) report, the use of AI tools could boost tax compliance rates by as much as 25% by increasing accuracy and streamlining procedures. AI can boost economic growth and improve citizen services by increasing the efficiency of tax procedures.

Building a Skilled Workforce for the Future

Investing in workforce development is essential to maximizing these prospects. To be competitive, accountants and tax professionals need to adopt upskilling and constant learning as AI technologies expand.

According to the World Economic Forum (2023), a shift in labor between humans and machines may result in the loss of 85 million jobs by 2025, although 97 million new positions that are better suited to the new division of labor may also arise. Institutions of higher learning can be extremely helpful by creating curricula that give professionals the tools they need to succeed in a technologically advanced workplace.

Strategies for Ghana to leverage AI in accounting and taxation

As Ghana seeks to harness the benefits of artificial intelligence (AI) in accounting and taxation, several straightforward strategies can be implemented. These approaches aim to boost productivity, improve compliance, and support economic growth while addressing challenges related to AI adoption.

• Improve Digital Infrastructure

Ghana must enhance its digital infrastructure to effectively use AI. This includes improving internet access, especially in rural areas where connectivity is limited. As of 2023, internet penetration in Ghana was around 60%, with notable gaps between urban and rural regions (ITU, 2023). Better internet access will enable businesses to use AI tools more effectively.

• Foster Partnerships

Collaboration between the government and private sector can drive innovation in AI technologies. By forming public-private partnerships, Ghana can develop AI solutions tailored to the accounting and taxation sectors, including joint research and funding for startups focused on AI applications.

• Invest in Workforce Training

To maximize AI’s potential, it is crucial to invest in training for the workforce. Educational institutions should create programs that include AI and data analytics for accounting professionals. The World Economic Forum predicts a growing demand for skills in AI and data analytics by 2025 (WEF, 2023). Continuous training programs should also be offered to help current professionals stay competitive.

• Establish Regulatory Guidelines

Clear regulatory frameworks for AI use are essential to address data privacy and compliance risks. The Ghana Revenue Authority (GRA) should create guidelines for AI deployment in tax administration, ensuring ethical practices and protecting sensitive information.

• Use AI to Improve Tax Compliance

AI can enhance tax compliance by automating processes and reducing errors (Gidisu et al., 2025). The GRA should invest in AI systems that streamline tax assessments, which could increase compliance rates by up to 25% (Business & Financial Times, 2025). This will boost government revenue and improve taxpayer services.

• Encourage Innovation

Ghana should promote innovation in AI by providing grants and incentives for startups developing AI solutions for accounting and taxation. Establishing incubators and innovation hubs can foster collaboration among entrepreneurs and researchers.

• Raise Awareness

To support AI adoption, it is important to educate professionals about its benefits and address concerns about job displacement. Public campaigns and workshops can help build trust in AI technologies, showing how they can enhance roles rather than replace them.

The impact of AI on accounting and taxation

1. Automating Routine Tasks

AI has significantly transformed accounting by automating repetitive and time-consuming tasks that have traditionally burdened professionals. Processes such as data entry, invoice processing, and bank reconciliation are now handled more efficiently with AI technologies (Eziefule, Adelakun, Okoye, & Attieku, 2024). Machine learning enables accountants to shift their focus from mundane tasks to more value-driven responsibilities, such as becoming trusted advisors to their clients. For instance, Sage’s Pegg, the world’s first accounting chatbot, helps manage finances by tracking expenses and automatically balancing books in real time (Sage, 2016).

2. Improved Accuracy and Efficiency

AI algorithms enhance the accuracy of financial reporting and provide valuable insights that support better decision-making. Accountants leverage AI to perform trend analysis, detect fraudulent activity, and forecast future financial trends. By rapidly analyzing vast volumes of financial data, AI identifies patterns and anomalies that might be missed through manual analysis, significantly improving the efficiency and reliability of financial reporting (Antwi, Adelakun & Eziefule, 2024; Cao & Zhang, 2025).

3. Enhancing Compliance and Risk Management

Accountants must stay compliant with constantly evolving tax laws and regulations a task that can be overwhelming. AI helps keep professionals up to date with the latest legal requirements, ensuring accurate and timely submissions. Additionally, AI-powered risk assessment tools can detect potential issues early on, allowing accountants to take proactive steps in mitigating financial and regulatory risks.

Conclusion

The accounting and taxation sector in Ghana stand to gain significantly from the incorporation of AI. In an increasingly complex economic environment, accountants can improve their strategic responsibilities and propel business success by embracing these technology innovations.

To fully exploit AI’s potential benefits, however, it is imperative to solve adoption barriers like cost, aversion to change, and ethical issues. The future of accounting and taxation is bright as Ghana continues to manage this digital transition.

With AI leading the way, the country can boost economic growth, increase compliance, and create a more creative and productive business climate. By positioning themselves as pivotal players in this transition, tax professionals in Ghana can significantly contribute to the overall efficiency of the country’s financial systems and its economic growth.

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